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Tower Resources hires rig contractor for 2019 well programme in Cameroon

The appraisal programme is slated for the second quarter of 2019, at which point Tower seeks to advance the Thali project closer to development

oil and gas operations
First oil production is anticipated by the end of 2019

Tower Resources PLC (LON:TRP) told investors that a contractor has been hired for the upcoming NJOM-3 well at the Thali project offshore Cameroon.

Vantage Drilling International will supply the Topaz Driller jack-up rig and drilling services to deliver the well, with operations expected in the second quarter of 2019.

The Topaz Driller was recently mobilised to Cameroon by a third-party at another offshore project – it is due to drill two appraisal wells on the Etinde discovery, which a joint venture for New Age, Lukoil and Bowleven.

READ: Tower Resources surges as it releases reserves report for Thali licence

At Thali, it an appraisal operation with the NJOM-3 designed to test the thickness of previously discovered reservoir, and, also test for other potential reservoirs at the new location.

Production testing aims to upgrade current resource estimates and provide data for a subsequent field development strategy. 

"We are very pleased to have secured the Topaz Driller, the same rig which our well management team at Bedrock Drilling used to drill the two recent Etinde wells,” said Jeremy Asher, Tower chief executive.

“We see the NJOM-3 well, in Q2 2019, as just the beginning of our drilling activity on the Thali license, as we explained in our corporate presentation of last month.

“The rig timing remains consistent with that schedule, including its target of first oil by the end of 2019."

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Price: 0.37 GBX

AIM:TRP
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